Beyond the Footsie: Friday close

SMALLER cap shares ended another dismal week in negative territory amid continuing worries over war with Iraq and its impact on the global economy. At the close, the FTSE SmallCap index was down 7.3 points at 1,729.5.

Loades was the session's worst performer, down 20 to 52 1/2p after the vehicle body designer delayed its annual general meeting and the release of its full-year results, while it sells its Coventry-based manufacturing operations.

The firm, which built many of Jaguar's prototypes, now plans to finalise the accounts by April.

Blazepoint dropped 0.37p to 1.50p as news that chairman Roger Wadsworth has bailed out the heavy equipment maker with a loan of £806,000 to provide additional working capital failed to allay longer-term financing concerns.

Topnotch Health Clubs was another casualty, down 3/4p to 5p, as its warning of a tough second half overshadowed news that it has negotiated 12 months' grace with bankers and posted a narrowing interim loss.

Slimma also had a rough ride, down 6 1/2p at 41 1/2p, after warning of a fall in first-half profits, mainly due to a £350,000 reorganisation charge as the company attempts to become more 'customer service' focused.

Fairplace Consulting was down 13p at 84p after admitting it is weighing up a 75p- a-share bid from Select Appointments, which is owned by Dutch recruitment giant Vedior. Select moved to pick up further stock in Fairplace today, buying another million shares from Park Row Group.

Technology group Alphyra Group dipped 24p to 152p on news its bid talks with First Data Corp have collapsed.

On the upside, Forever Broadcasting was ahead 5p to 38 1/2p as a bright trading statement was accompanied by a reassurance that bid talks with a number of parties are still ongoing.

Gladstone firmed 0.5p to 4.20p after chief executive Ben Merrett lifted his own shareholding to 1.29 pct via the purchase of 79,175 shares at 3.5 each. Non-executive director Jeremy Stokes was also spotted building his stake.

News that the Italian Ministry of Defence had granted Gold Mines of Sardinia access to a new concession helped offset a fall in the prospector's quarterly gold production. Shares hardened 1 1/4p to 9 1/2p.

And Alpha Airports rose 6p to 55p after announcing that trading in the second half of the year has been in line with expectations.

Designer menswear maker Marchpole held on to 0.38p gains at 4p after unveiling a 'significant' rise in operating profit and sales for the third quarter against the previous quarter.

And McInerney added 7 1/2p to 147 1/2p after saying that full year results 2002 will be better than last time.